MSBD
Open bankruptcyA bankruptcy procedure is open for MSBD according to publications in the Belgian State Gazette; curator: CELINE LEBLANC.
Summary
The 2024 annual accounts show negative equity (€-188k) and a net result of €-241k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year €-188k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-06-2025, 37 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
37 d early
2023
23 d early
2022
28 d early
2021
46 d early
2020
8 d early
2019
3 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-241k▼ 73.2%
2023 · €-139k
2018: €2k
2019: €20k
2020: €52k
2021: €4k
2022: €61k
2023: €-139k
2018 → 2024
Working capital
€47k▼ 65.7%
2023 · €138k
2018: €4k
2019: €24k
2020: €53k
2021: €92k
2022: €254k
2023: €138k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€77k-€130k▲ 68.5%€191k▲ 46.8%€52k▼ 72.7%€-188k
Operating result€65k-€6k▼ 91.2%€112k▲ 1,855%€-118k€-219k▼ 85.1%
Net result€52k-€4k▼ 93.2%€61k▲ 1,614%€-139k€-241k▼ 73.2%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €219k in 2024 against €118k in 2023; the loss grows and 2024 has the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €759k
Fixed assets
€360k ▼ 30.0%
Current assets
€400k ▼ 18.3%
Key figures and ratios
EBITDA
€-49k▼
2023 · €53k
Cash flow
€-71k▼
2023 · €32k
Solvency
-24.8%▼
2023 · 5.2%
Current ratio
1.13▼
2023 · 1.39
Debt to equity
-5.03▼
2023 · 16.62
ROA
-31.7%▼
2023 · -13.8%
Interest coverage
-2.27▼
2023 · 2.60
Debt
€948k▲
2023 · €869k
Debt ≤ 1 year
€352k▲
2023 · €351k
Debt > 1 year
€595k▲
2023 · €517k
Income taxes
€541▲
2023 · €377
Staff costs
€563k▲
2023 · €512k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 52 lines
Balance sheet
Code20232024
Assets
Total assets20/58€1.00M€760k▼
Formation expenses20€759€503▼
Fixed assets21/28€514k€360k▼
Intangible fixed assets21€480k€320k▼
Tangible fixed assets22/27€24k€30k▲
Plant, machinery and equipment23€3k€3k▲
Furniture and vehicles24€18k€20k▲
Other tangible fixed assets26€3k€7k▲
Financial fixed assets28€10k€10k=
Current assets29/58€489k€400k▼
Amounts receivable within one year40/41€373k€316k▼
Trade receivables40€222k€209k▼
Other amounts receivable41€151k€107k▼
Cash at bank and in hand54/58€90k€58k▼
Deferred charges and accrued income490/1€27k€26k▼
Equity and liabilities
Total equity and liabilities10/49€1.00M€760k▼
Equity10/15€52k€-188k▼
Contributions10/11€59k€59k=
Reserves13€73k€73k=
Distributable reserves133€73k€73k=
Profit (loss) carried forward14€-80k€-320k▼
Provisions and deferred taxes16€83k-
Provisions for liabilities and charges160/5€83k-
Other liabilities and charges164/5€83k-
Amounts payable17/49€869k€948k▲
Amounts payable after more than one year17€517k€595k▲
Financial debts170/4€517k€595k▲
Amounts payable within one year42/48€351k€352k▲
Current portion of amounts payable after more than one year42€154k€161k▲
Trade debts44€26k€18k▼
Suppliers440/4€26k€18k▼
Taxes, remuneration and social security45€80k€155k▲
Taxes450/3€22k€44k▲
Remuneration and social security454/9€58k€111k▲
Other amounts payable47/48€91k€19k▼
Accrued charges and deferred income492/3€1k€1k=
Income statement
Code20232024
Remuneration, social security and pensions62€512k€563k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€171k€170k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€-30k€-83k▼
Other operating charges640/8€3k€74k▲
Non-recurring operating charges66A€1k€-2k▼
Gross operating margin9900€540k€504k▼
Operating profit (loss)9901€-118k€-219k▼
Financial charges65/66B€20k€22k▲
Recurring financial charges65€20k€22k▲
Profit (loss) for the period before taxes9903€-139k€-240k▼
Income taxes67/77€377€541▲
Profit (loss) for the period9904€-139k€-241k▼
Profit (loss) for the period to be appropriated9905€-139k€-241k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-80k€-320k▼
Profit (loss) brought forward from the previous period14P€59k€-80k▼
Social balance
Average headcount (FTE)908710.810.8=
The notes to these accounts (18 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
25-03
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Namur · MSBD SRL RUE DE LA MOTTE 45, 5660 BOUSSU-EN-FAGNE · event 19-03-2026
2025
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €-241k
Net result drops to €-241k, the lowest in the series.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €61k ▲1614%
Operating result €112k, net result €61k, both a record.
31-12
Financial
Equity above €150kEq €191k ▲46.8%
5 profitable years in a row build equity to €191k.
15-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €100kEq €130k ▲68.5%
4 profitable years in a row build equity to €130k.
23-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Couvin · 4 establishment units since 2017
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue de la Motte, B.-en-F. 455660 CouvinGround area
3.3 ha
Building footprint
1.1 ha
Volume, LiDAR
80,723 m³
4 parcels, Wallonia · tallest building 20.5 m, ±5 floors. Linked by address, not a title deed.
4 establishment units
MSBD
since 20172.265.046.703
C'LA - Customs & Logistics Agency
since 20202.299.549.997
C' LA - Customs & Logistics Agency
since 20222.326.086.130
C' LA - Customs & Logistics Agency
since 20232.342.540.496
4 parcels
Wallonia
4
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52043F0272/00X000 | Wallonia | 3.0 ha | 1 · 8,804 m² | 16.8 m · 2 fl. |
| 52011B0239/00F177 | Wallonia | 2,193 m² | 1 · 1,807 m² | 20.5 m · 5 fl. |
| 93006D0498/00Y000 | Wallonia | 944 m² | 1 · 101 m² | - |
| 93014A0405/00B002indicative | Wallonia | 290 m² | 1 · 120 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 3
3 of 4 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | CELINE LEBLANC RUE THéMIS 10, 5000 NAMUR- |
19-03-2026 → present |
Recognitions · licences · registrations
Food safety, FASFC
1 siteManage2.326.086.130
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Of 4,567 companies in sector 74999 we hold annual accounts for 1,938. 1,534 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded10-05-2017
Fiscal year end31-12
Activities, NACEBEL 2025
52250Logistics services
74999Other professional, scientific and technical activities
33190Repair, maintenance and installation of machinery and equipment
47811Retail sale of cars and light vans (up to 3.5 tonnes)
95312Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles
95315Tyre services
95314Bodywork repair (including spraying and painting)
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.
Contact details
2 entriesE-mail:infos@msbd.be
Website:www.MSBD.be